George Santos Under Investigation for Prediction Market Trades
- Investigation Launched: The DOJ and CFTC have initiated an investigation into George Santos's trading activities related to prediction markets during his attendance at the February State of the Union, highlighting increasing regulatory scrutiny over prediction markets.
- Account Frozen: Kalshi identified suspicious trading patterns linked to Santos's attendance and subsequently froze his account, referring the matter to regulators, indicating the platform's commitment to maintaining market integrity.
- Insider Trading Scrutiny: Santos allegedly placed bets predicting he would not attend the address after publicly stating he would, raising significant concerns about insider trading in prediction markets, which could undermine participant confidence.
- Market Response: Despite the ongoing investigations, both Kalshi and Polymarket continue to lead in trading activity, with Kalshi recording approximately $16.8 billion in volume in May, reflecting sustained demand and trust in these platforms.
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Technical Analysis for U
Technical Sentiment Analysis for Union (U). As of , Union (U) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 2 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for U stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, U is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Union (U) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.999 | 0.999 | 1 | 1.001 | 1.001 | 1.002 | 1.002 |
| Fibonacci | 0.999 | 1 | 1 | 1.001 | 1.001 | 1.001 | 1.002 |
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